Ann: LVAD Trial Results Provide Potential Regulatory Pathway, page-37

Ok I'm reading the announcement again and maybe I'm grasping at silver linings here............but to be fair there are a lot of them.

1) MSB did achieve significant reduction of GI bleeding, issues, associated hospitalizations etc. All around. Really nice. This affects 40% of LVAD patients so a pretty large group.

2) This clinically meaningful outcome confirms results seen in an earlier 30-patient pilot trial2 whichprovided the basis for the Regenerative Medicine Advanced Therapy (RMAT) designation.  (So we basically confirmed what HAD ALREADY been seen in the earlier trials and which was the reason we were given RMAT. So again I would say good.

3) Dr Pagani said: “This trial, like the previous pilot investigation, demonstrated that intramyocardialallogeneic MPC injections were associated with a significant reduction in GI bleeding, a major cause ofmorbidity and increased cost in LVAD patient management.”

Pretty much sums up the results of this trial. Its a drug to reduce GI Bleeding (and maybe other things we don't know about) at this stage. It is a cost, it does cause issues for people, it will make money. How much..........yeah nobody knows. Which is perhaps the problem.

4) We didn't have a magic "your heart is fixed" moment. Which I think everybody was primed for (myself included). But looking back on things really did we expect that we had a miracle drug to cure busted hearts? I'm not sure that was ever shown to be the case in any of the trials.

If anything our trial results have shown along the way that our drug definitely is helpful, useful and needed. But its not some magic bullet.

MSB had a not bad result today. We all wished for rainbows and sunshine but like our journey so far it just hasn't happened. Unfortunately MSB will likely be one of those companies that plods along. Gets partners and in time slowly starts to make some ok decent cash.

But it doesn't look like its going to be a "miracle wonder drug" overnight sensation company.

Which given how our price has gone over the years was basically signposted YEARS ago really.......

So all up the big fall you see is simply shorters doing the usual. And yeah a lot of people being dissapointed we didn't have the wonder holy jesus drug. But our prior trial results never said we did either. We have a drug. It will be approved and it will help people but its not going to fix your busted heart.

It'll help.

MSB provides palliative care medicine I would say is where its at. The intriguing question is all the applications for this anti-inflammation stuff we make in the future because that is a really a big area. There is so much more to figure out.

But right now we need the basics. Revenue, partnerships.

So yeah.........kind of like how Madamswer mentioned lots of times it unfortunately has now come down to that. Approvals, Partnerships, Revenue. If we can't show more partnerships and growing revenue in the coming 6-12 months yeah its looking ugly.